Gold crashes 13% in weeks as yields and dollar surge after Hormuz shock

Published on 15 May 2026

Strait of Hormuz closure is driving oil up fast

Gold prices are tumbling sharply, falling over 13% since the U.S.-Iran conflict escalated on February 28. Spot gold dropped 2% to around $4,557 per ounce, the lowest in weeks, with losses extending for a fourth straight session. The move is being blamed on rising oil prices fueling renewed inflation fears, higher U.S. Treasury yields, and a stronger dollar. Markets have also grown more skeptical about near-term rate cuts, weighing on the non-yielding metal.

Spot gold slid about 2% to $4,557.25 an ounce
Gold is down more than 13% since Feb 28
U.S. gold futures for June fell 2.7% to $4,561.30
Brent crude is up 6.6% this week above $108
FedWatch shows about a 39% chance of a December hike
Spot silver dropped 6.4% to $78.16

#inflation fears #gold prices #us interest rates #oil prices #us treasury yields

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Gold crashes 13% in weeks as yields and dollar surge after Hormuz shock

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